View Information Collection Request (ICR) Package
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Please note that the OMB number and expiration date may not have been determined when this Information Collection Request and associated Information Collection forms were submitted to OMB. The approved OMB number and expiration date may be found by clicking on the Notice of Action link below.
View ICR - OIRA Conclusion
OMB Control No:
1545-2219
ICR Reference No:
201507-1545-025
Status:
Historical Active
Previous ICR Reference No:
201202-1545-003
Agency/Subagency:
TREAS/IRS
Agency Tracking No:
Title:
Form 14242 - Reporting Abusive Tax Promotions or Preparer's, & Form 14242 (SP) - Informe las Presuntas Promociones de Planes
Type of Information Collection:
Reinstatement with change of a previously approved collection
Common Form ICR:
No
Type of Review Request:
Regular
OIRA Conclusion Action:
Approved without change
Conclusion Date:
03/18/2017
Retrieve Notice of Action (NOA)
Date Received in OIRA:
11/30/2016
Terms of Clearance:
Inventory as of this Action
Requested
Previously Approved
Expiration Date
03/31/2020
36 Months From Approved
Responses
460
0
0
Time Burden (Hours)
77
0
0
Cost Burden (Dollars)
0
0
0
Abstract:
Form 14242 and Form 14242 (SP) are both used to report an abusive tax avoidance scheme and tax return preparer's who promote such schemes (Form 14242 (SP) is the Spanish translation of Form 14242) . The information is collected to combat abusive tax promoters. Respondents can be individuals, businesses and tax return preparer's.
Authorizing Statute(s):
US Code:
26 USC 6700
Name of Law: Promoting abusive tax shelters, etc.
US Code:
26 USC 6701
Name of Law: Penalties for aiding and abetting understatement of tax liability
US Code:
26 USC 7408
Name of Law: Actions to enjoin specified conduct related to tax shelters and reportable transactions
Citations for New Statutory Requirements:
None
Associated Rulemaking Information
RIN:
Stage of Rulemaking:
Federal Register Citation:
Date:
Not associated with rulemaking
Federal Register Notices & Comments
60-day Notice:
Federal Register Citation:
Citation Date:
80 FR 52540
08/31/2015
30-day Notice:
Federal Register Citation:
Citation Date:
81 FR 86380
11/30/2016
Did the Agency receive public comments on this ICR?
No
Number of Information Collection (IC) in this ICR:
2
IC Title
Form No.
Form Name
Form 14242 (SP) - Informe las Presuntas Promociones de Planes
14242 (SP)
Informe las Presuntas Promociones de Planes
Form 14242 - Reporting Abusive Tax Promotions or Preparers
14242
Report Suspected Abusive Tax Promotions or Preparers
ICR Summary of Burden
Total Approved
Previously Approved
Change Due to New Statute
Change Due to Agency Discretion
Change Due to Adjustment in Estimate
Change Due to Potential Violation of the PRA
Annual Number of Responses
460
0
0
100
0
360
Annual Time Burden (Hours)
77
0
0
17
-3,540
3,600
Annual Cost Burden (Dollars)
0
0
0
0
0
0
Burden increases because of Program Change due to Agency Discretion:
Yes
Burden Increase Due to:
Miscellaneous Actions
Burden decreases because of Program Change due to Agency Discretion:
Yes
Burden Reduction Due to:
Miscellaneous Actions
Short Statement:
The agency is updating this collection to include new Form 14242 SP. Form 14242 SP is the Spanish translation of Form 14242 and increases the burden by 100 respondents and 17 hours. However, by making a correction to Form 14242's previously reported estimate, the time to complete the form is now correctly reported as 10 minutes versus 10 hours, which results in an overall decrease in estimated burden by 3,523 hours. There were no changes made to Form 14242 that would affect burden, just a correction to a clerical error in the previous submission .
Annual Cost to Federal Government:
$0
Does this IC contain surveys, censuses, or employ statistical methods?
No
Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002?
No
Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]?
No
Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]?
No
Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)?
No
Is this ICR related to the Pandemic Response?
Uncollected
Agency Contact:
Portia Powell-Stringer 651 312-2251
Common Form ICR:
No
On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).
The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:
(a) It is necessary for the proper performance of agency functions;
(b) It avoids unnecessary duplication;
(c) It reduces burden on small entities;
(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;
(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;
(f) It indicates the retention periods for recordkeeping requirements;
(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:
(i) Why the information is being collected;
(ii) Use of information;
(iii) Burden estimate;
(iv) Nature of response (voluntary, required for a benefit, or mandatory);
(v) Nature and extent of confidentiality; and
(vi) Need to display currently valid OMB control number;
(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.
(i) It uses effective and efficient statistical survey methodology (if applicable); and
(j) It makes appropriate use of information technology.
If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.
Certification Date:
11/30/2016
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